Tucows Inc. (AMEX: TCX) Director, Rawleigh Hazen Ralls IV bought 277,935 shares of TCX common stock at $1.15 per share for a total investment of $319,474.
The purchase is the first filed by Ralls in the past twelve months.
TCX shares fell 1.72% to finish at $1.14 in trading today. TCX shares have a 52-week range of $0.72-$1.72. Year-to-date, the stock has gained 52%.
Based in Toronto, Canada, Tucows is a global provider of domain names and other Internet services.
TCX last week reported its second-quarter financial results. For the second quarter ended June 30, 2012, TCX reported net revenue of $28.2 million, a record and up from $23 million reported in the second quarter of 2011. The year-over-year increase in net revenue was driven by growth in each of the company’s three service categories.
TCX’s net income for the second quarter of 2012 was $0.7 million, or $0.02 per share, compared to net income of $0.6 million, or $0.01 per share reported for the same period in the previous year.
Deferred revenue for the second quarter of 2012 was $74.5 million, representing an increase of 12% over the same period in the previous year.
Elliot Noss, President and CEO of Tucows, said that the second quarter was TCX’s ninth consecutive quarter of record revenue. Noss said that TCX’s strong performance was driven by meaningful growth in each of the company’s three service categories. Noss noted that Wholesale service continues to benefit from new service introductions, while Retail service continues to grow as a result of TCX’s relentless focus on customer experience. Noss added that TCX’s Portfolio service is providing predictable revenue streams with strong inventory sales.
Noss said that with this kind of consistency in performance and leverage in the business model, plus promising new opportunities on the horizon like gTLDs and Ting, TCX is well positioned to deliver continued growth and to return capital to shareholders over long-term.
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